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System and method for internet cash payment

a technology of internet cash payment and payment method, applied in payment protocols, instruments, data processing applications, etc., can solve the problems of difficult pay-per-view for internet websites, inability to achieve, and companies that cannot achieve online advertising revenue generation, etc., and achieve the effect of low cos

Inactive Publication Date: 2002-11-21
LI HONG
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Benefits of technology

[0005] The object of this invention is to provide an internet-cash payment system that does not require payers to provide any information or require any special device, which makes online payments convenient, private, secure and fast.
[0009] The whole transaction can be completed in seconds or minutes with low cost, without any special device, and without having to type in any information about a payer such as a credit card number, a home address, a phone number and so on for a transaction.
[0010] Such an internet-cash payment system is very convenient, especially for small transactions such as pay-per-view of internet news, internet search engines and other internet websites.

Problems solved by technology

These limitations make pay-per-view for internet websites very difficult and not feasible.
As a result, revenues of most internet service companies are mainly from online advertising and most of the companies are not successful in generating revenues by online advertising.

Method used

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Examples

Experimental program
Comparison scheme
Effect test

Embodiment Construction

[0011] Internet Cash

[0012] In the system according to the present invention, each bill of the internet-cash comprises at least one code, made by an issuer's computer, recognizable and manageable by a special software. Each of the codes can be similar to the code stored on the magnetic band of an ATM card or credit card. It can also include numerical numbers and letters. Each code can be one bill of the internet-cash with a fixed value preset by an issuer such as one cent, five cents, one dollar, ten dollars and so on. The codes are different from each other, and are for onetime use only. Many of the one-code bills can be combined by the software into a large bill consisting of multi-codes with a value equivalent of all the one-code bills in it. The internet-cash contains an issuer's online contact information such as an email address and a phone number for online transactions. A user's (payer's) email address can also be put into each code by an issuer to restrict its use.

[0013] A b...

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PUM

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Abstract

An internet-cash payment system comprises the internet-cash, a telecommunication network, and computers with special software for payers, payees, and issuers of the internet-cash. The internet-cash comprises codes, which are different from each other, and for onetime use only. A bill of the internet-cash to be paid is an icon on a computer screen, and contains its issuer's email address for an online transaction. A payer can use a computer to send the internet-cash by dropping a bill icon to a cash collection icon at a payee's website. The collection icon automatically forwards the internet-cash to its issuer's computer to check in the computer record. If the internet-cash matches the record for the first time, the issuer's computer will automatically deposit the cash to the payee's account, and send a receipt to the payee and the payer. If the internet-cash is rejected, the issuer's computer will send a rejection notice to the payee and the payer. This internet-cash payment system is very convenient for small transactions such as pay-per-view of internet news, internet search engines and other internet websites, since there is no need for a payer to type in any private information such as a credit card number, a home address, a phone number and so on for a transaction.

Description

FIELD AND BACK GROUND OF THE INVENTION[0001] The present invention relates to a network payment system and method, and in particular, to an internet-cash (Cyber-cash) payment system and method.[0002] Limitations of the prior art for internet payment methods and systems are: 1. Inconvenient. A payer is required to provide information including a pin number, a card number, an address, a signature and so on. 2. Not private, not secure. Consumers are venerable by often giving this information to many businesses. 3. A special device is needed. Devices such as an e-cash purse with an electrical circuit, a bank card or credit card, and a card port are often needed to be used.[0003] These limitations make pay-per-view for internet websites very difficult and not feasible. As a result, revenues of most internet service companies are mainly from online advertising and most of the companies are not successful in generating revenues by online advertising.[0004] The present invention is to addre...

Claims

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Application Information

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Patent Type & Authority Applications(United States)
IPC IPC(8): G06Q20/04G06Q20/10G06Q20/38
CPCG06Q20/04G06Q20/385G06Q20/10
Inventor LI, HONG
Owner LI HONG
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